LSC Lithium Discovers Deep Seated Lithium in Brine Bearing Formations in Excess of 500m Depth on Rio Grande
HIGHLIGHTS
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- Lithium in brine bearing formations indicated to 500m+ depth
- Two deep seated depositional centers identified
- Historic and current Phase 1 drilling is to 100m
- Results for Phase 1 drill program imminent
- Phase 2 exploration program to test deeper levels of the salar
- NI 43-101 Mineral Resource estimate by end of February 2018
TORONTO, Jan. 22, 2018 (GLOBE NEWSWIRE) -- LSC Lithium Corp. (“LSC” or together with its subsidiaries, the “Company”) (TSX-V:LSC) is pleased to announce that the results for the recently completed Controlled Source Audio-frequency Magnetotellurics (“CSAMT”) subsurface conductivity survey carried out on LSC’s Rio Grande lithium project (See Map 1) indicate that there could be significant depth to the lithium bearing formations on the project.
The Company’s President & CEO Ian Stalker commented “The fact that the potential depth to the base of the salar on Rio Grande is estimated to be over 500m is a significant discovery for the Company. This adds an additional 400m to the depth of known brine bearing formations which may be a potential upside for the project. We look forward to publishing the results from our recent drill program that will add further value to this announcement and to the 2018 Mineral Resource delineation exercise which will test this deeper target”.
In order to acquire high resolution magnetotelluric imaging, the geophysical contractor used the digital MT acquisition system STRATAGEM EH-4. The STRATAGEM EH-4 acquisition system (Hybrid Source Magnetotellurics) uses the magnetotelluric method to measure subsurface conductivity.
Interpretation of the results indicates that the potential for lithium bearing formations extends to depths in excess of 500m below surface (See Map 1 and Figure 1). Secondly, the results also indicate the presence of two deep seated depositional centers. The first is well developed in the northern section of the salar and is open ended both at depth deeper than 500m and laterally to the north. The second depositional center is more centrally located. LSC’s 2018 drill program will investigate both of these deep targets and is also designed to deliver a NI 43-101 Mineral Resource to the measured category.
Qualified Person/Data Verification
The scientific and technical information included in this press release is based upon information prepared and approved by Donald H. Hains, P.Geo. Mr. Hains is a qualified person, as defined in NI 43-101 and is independent of LSC. Mr. Hains has verified all data underlying the information contained in this press release.
ABOUT LSC Lithium Corp.:
LSC Lithium has amassed a large portfolio of prospective lithium rich salars and is focused on developing its tenements located in five salars: Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes, and Jama. All LSC tenements are located in the “Lithium Triangle,” an area at the intersection of Argentina, Bolivia, and Chile where the world’s most abundant lithium brine deposits are found. LSC Lithium has a land package portfolio totaling approximately 300,000 hectares, which represents extensive lithium prospective salar holdings in Argentina.
For further information please contact:
LSC Lithium Corp.
Ian Stalker
President & Chief Executive Officer
151 Yonge Street, 11th floor
Toronto ON, Canada M5C 2W7
(416) 304 9384
Email: info@lsclithium.com
Web: lsclithium.com
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance, including statements as to the completion of the CSAMT, likelihood and potential of significant depth to the lithium bearing formations on Rio Grande, ability and timing to publish results from the recent drill program, interpretation of the CSAMT and drill results, ability to complete the 2018 drill program, and ability and anticipated timing to complete a NI 43-101 report on the Salar de Rio Grande. The use of any of the words “could”, “anticipate”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on LSC's current belief or assumptions as to the outcome and timing of such future events. Whether actual results and developments will conform with LSC's expectations is subject to a number of risks and uncertainties including factors underlying management's assumptions, such as risks related to: drill program results; title, permitting and regulatory risks; exploration and the establishment of any resources or reserves on the Salar de Rio Grande or other LSC properties; volatility in lithium prices and the market for lithium; exchange rate fluctuations; volatility in LSC’s share price; the requirement for significant additional funds for development that may not be available; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; regulatory, political or economic developments in Argentina or elsewhere; litigation; title, permit or license disputes related to interests on any of the properties in which the Company holds an interest; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the Company's properties; risks and hazards associated with the business of development and mining on any of the Company's properties. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and LSC is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. For more information, see the Company's filing statement on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
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